https://www.taxtmi.com/caselaws?id=289289 The Tribunal held that the reassessment proceedings were void ab initio due to lack of an independent belief by the Assessing Officer (AO) that income had escaped assessment. The Tribunal emphasized the importance of the AO forming an independent opinion before reopening an assessment, citing legal precedents. As a result, the Tribunal dismissed the Revenue's appeal, upholding the decision to cancel the reassessment order. en-us Thu, 09 Feb 2017 00:00:00 +0530 Fri, 24 Jul 2020 08:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289289 The Tribunal held that the reassessment proceedings were void ab initio due to lack of an independent belief by the Assessing Officer (AO) that income had escaped assessment. The Tribunal emphasized the importance of the AO forming an independent opinion before reopening an assessment, citing legal precedents. As a result, the Tribunal dismissed the Revenue's appeal, upholding the decision to cancel the reassessment order. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289289